America First Tax Exempt Investors, L.P.

Distributions

Record Date Payable Date Distribution (per BUC)
12/31/2007 01/31/2008 $0.135
03/31/2008 04/30/2008 $0.135
06/30/2008 07/31/2008 $0.135
09/30/2008 10/31/2008 $0.135

Our current distribution policy is to make quarterly payments of $0.135 per BUC with the record date being the last business day of the calendar quarter. The payable date is the last business day of the following month. Distributions are expected to continue in this fashion until such time as the Board of Managers of the General Partner changes the current policy.

For questions or comments, contact Investor Services: 402.930.3098